Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Implementing Fee Change, 22990-22991 [E9-11358]
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22990
Federal Register / Vol. 74, No. 93 / Friday, May 15, 2009 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–11356 Filed 5–14–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59891; File No. SR–Phlx–
2009–24]
Self-Regulatory Organizations;
NASDAQ OMX PHLX, Inc.; Order
Approving Proposed Rule Change, as
Modified by Amendment No. 1 Thereto,
Increasing Transaction Fees for
Linkage Inbound Principal Orders and
Principal Acting as Agent Orders
May 8, 2009.
I. Introduction
On March 24, 2009, the NASDAQ
OMX PHLX, Inc. (‘‘Phlx’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’), pursuant to Section
19(b)(1) of the Securities Exchange Act
of 1934 (the ‘‘Act’’),1 and Rule 19b–4
thereunder,2 a proposed rule change
seeking to increase transaction fees
applicable to the execution of Principal
Acting as Agent Orders (‘‘P/A Orders’’) 3
and Principal Orders (‘‘P Orders’’) 4 sent
to the Exchange via the Intermarket
Options Linkage (‘‘Linkage’’) under the
Plan for the Purpose of Creating and
Operating an Intermarket Option
Linkage (the ‘‘Plan’’).5 On March 26,
2009, Phlx submitted Amendment No. 1
to the proposed rule change. The
proposed rule change was published for
comment in the Federal Register on
April 8, 2009.6 The Commission
received no comments on the proposal.
This order approves the proposed rule
change, as amended.
14 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 A P/A Order, is an order for the principal
account of a specialist (or equivalent entity on
another Participant Exchange that is authorized to
represent Public Customer orders), reflecting the
terms of a related unexecuted Public Customer
order for which the specialist is acting as agent. See
Exchange Rule 1083(k)(i).
4 A P Order is an order for the principal account
of an Eligible Market Maker. See Exchange Rule
1083(k)(ii).
5 See Securities Exchange Act Release Nos. 43086
(July 28, 2000), 65 FR 48023 (August 4, 2000) (order
approving the Plan) and 43573 (November 16,
2000), 65 FR 70851 (November 28, 2000) (order
approving Phlx as a participant in the Plan).
6 See Securities Exchange Act Release No. 59669
(April 1, 2009), 74 FR 16026.
1 15
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16:43 May 14, 2009
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II. Description of the Proposal
The Exchange proposes to amend the
Equity Options Fees portion of its fee
schedule relating to transaction fees
applicable to the execution of P/A
Orders and P Orders sent to the Linkage
under the Plan. Specifically, the
Exchange proposes to increase its
transaction fees for P/A Orders from the
current $0.15 per option contract to
$0.30 per option contract, and for P
Orders from the current $0.25 per
option contract to $0.45 per contract.
This proposal is part of an existing pilot
program, which is scheduled to expire
July 31, 2009.7
The Exchange states that the purpose
of the proposed rule change is to raise
revenue for the Exchange. The Exchange
also represents that, consistent with
current practice, the Exchange: (i) Will
charge the clearing member organization
of the sender of P Orders and P/A
Orders; and (ii) will not charge for the
execution of Satisfaction Orders sent
through Linkage.
The Exchange also proposes a
technical amendment to the schedule of
Equity Option Fees by correcting a
typographical error, changing the word
‘‘overlaying’’ to read ‘‘overlying.’’
III. Discussion and Commission
Findings
After careful consideration, the
Commission finds that the proposed
rule change is consistent with the
requirements of the Act and the rules
and regulations thereunder applicable to
a national securities exchange.8 In
particular, the Commission finds that
the proposal is consistent with Section
6(b)(4) of the Act,9 which requires that
an exchange have rules that provide for
the equitable allocation of reasonable
dues, fees, and other charges among its
members and other persons using its
facilities. The Commission notes that
the Options Linkage fees are assessed
pursuant to a pilot scheduled to end on
July 31, 2009 and that the Commission
is continuing to evaluate whether such
fees are appropriate.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,10 that the
proposed rule change (SR–Phlx–2009–
24), as amended, is hereby approved.
7 See Securities Exchange Act Release No. 58144
(July 11, 2008), 73 FR 41394 (July 18, 2008) (SR–
Phlx–2008–49).
8 In approving this proposed rule change, the
Commission notes that it has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. 15 U.S.C. 78c(f).
9 15 U.S.C. 78f(b)(4).
10 15 U.S.C. 78s(b)(2).
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For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–11357 Filed 5–14–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59893; File No. SR–
NYSEArca–2009–38]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Implementing Fee
Change
May 8, 2009.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that on April 30,
2009, NYSE Arca, Inc. (‘‘NYSE Arca’’ or
the ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I, II and III
below, which Items have been prepared
by the self-regulatory organization.
NYSE Arca filed the proposal pursuant
to Section 19(b)(3)(A) 4 of the Act and
Rule 19b–4(f)(2) 5 thereunder. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend its
Schedule of Fees and Charges for
Exchange Services (the ‘‘Schedule’’).
While changes to the Schedule pursuant
to this proposal will be effective upon
filing, the changes will become
operative on May 1, 2009. A copy of this
filing is available on the Exchange’s
Web site at https://www.nyse.com, at the
Exchange’s principal office and at the
Commission’s Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
self-regulatory organization included
statements concerning the purpose of,
and basis for, the proposed rule change
and discussed any comments it received
11 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
4 15 U.S.C. 78s(b)(3)(A).
5 17 CFR 240.19b–4(f)(2).
1 15
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Federal Register / Vol. 74, No. 93 / Friday, May 15, 2009 / Notices
on the proposed rule change. The text
of those statements may be examined at
the places specified in Item IV below.
The Exchange has prepared summaries,
set forth in sections A, B, and C below,
of the most significant parts of such
statements.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change is
effective upon filing pursuant to Section
19(b)(3)(A) 6 of the Act and
subparagraph (f)(2) of Rule 19b–4 7
thereunder, because it establishes a due,
fee, or other charge imposed by NYSE
Arca on its members. At any time
within 60 days of the filing of the
proposed rule change, the Commission
may summarily abrogate such rule
change if it appears to the Commission
that such action is necessary or
appropriate in the public interest, for
the protection of investors, or otherwise
in furtherance of the purposes of the
Act.
1. Purpose
The Exchange proposes adding a fee
for Market-on-Close (‘‘MOC’’) and Limiton-Close (‘‘LOC’’) orders executed in the
Closing Auction. A fee of $.0005 per
share will be charged for all MOC and
LOC orders executed in the Closing
Auction in NYSE Arca primary listed
securities, including all exchange traded
funds (‘‘ETFs’’) and exchange traded
notes (‘‘ETNs’’). The Exchange also
proposes charging a fee of $.0005 per
share for all MOC and LOC orders
executed in the Closing Auction in Tape
C ETFs and ETNs. Currently, the
Exchange does not charge a fee for
orders executed in the Closing Auction.
Lead Market Makers (‘‘LMMs’’)
executing orders in the Closing Auction
in securities in which the firm is
registered as the LMM will continue to
not be charged a fee. The proposed fee
will become operative on May 1, 2009,
and will apply to all pricing levels,
including tiered and basic rate pricing.
The Exchange believes that the
proposed changes to the Schedule are
equitable in that they apply uniformly
to all similarly situated Users.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the
Securities Exchange Act of 1934 (the
‘‘Act’’), in general, and Section 6(b)(4) of
the Act, in particular, in that it is
designed to provide for the equitable
allocation of reasonable dues, fees, and
other charges among its members and
other persons using its facilities. The
Exchange believes that the proposed
changes to the Schedule are equitable in
that they apply uniformly to all
similarly situated Users.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
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16:43 May 14, 2009
Jkt 217001
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–NYSEArca–2009–38 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–NYSEArca–2009–38. This
file number should be included on the
subject line if e-mail is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for inspection and copying in
the Commission’s Public Reference
Room, 100 F Street, NE, Washington, DC
20549, on official business days
between the hours of 10 a.m. and 3 p.m.
Copies of the filing also will be available
for inspection and copying at the
principal office of the Exchange. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–NYSEArca–2009–38 and
should be submitted on or before June
5, 2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–11358 Filed 5–14–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59896; File No. SR–CBOE–
2009–030]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing of a
Proposed Rule Change Regarding
Appointments and Obligations of
CBSX DPMs
May 11, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on May 7,
2009, the Chicago Board Options
Exchange, Incorporated (‘‘CBOE’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
substantially prepared by the Exchange.
The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
persons.
8 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
6 15
U.S.C. 78s(b)(3)(A).
7 17 CFR 240.19b–4(f)(2).
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22991
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]]>Agencies
[Federal Register Volume 74, Number 93 (Friday, May 15, 2009)]
[Notices]
[Pages 22990-22991]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-11358]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-59893; File No. SR-NYSEArca-2009-38]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Implementing Fee
Change
May 8, 2009.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that on April 30, 2009, NYSE Arca, Inc. (``NYSE Arca'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II
and III below, which Items have been prepared by the self-regulatory
organization. NYSE Arca filed the proposal pursuant to Section
19(b)(3)(A) \4\ of the Act and Rule 19b-4(f)(2) \5\ thereunder. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
\4\ 15 U.S.C. 78s(b)(3)(A).
\5\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend its Schedule of Fees and Charges for
Exchange Services (the ``Schedule''). While changes to the Schedule
pursuant to this proposal will be effective upon filing, the changes
will become operative on May 1, 2009. A copy of this filing is
available on the Exchange's Web site at https://www.nyse.com, at the
Exchange's principal office and at the Commission's Public Reference
Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received
[[Page 22991]]
on the proposed rule change. The text of those statements may be
examined at the places specified in Item IV below. The Exchange has
prepared summaries, set forth in sections A, B, and C below, of the
most significant parts of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes adding a fee for Market-on-Close (``MOC'')
and Limit-on-Close (``LOC'') orders executed in the Closing Auction. A
fee of $.0005 per share will be charged for all MOC and LOC orders
executed in the Closing Auction in NYSE Arca primary listed securities,
including all exchange traded funds (``ETFs'') and exchange traded
notes (``ETNs''). The Exchange also proposes charging a fee of $.0005
per share for all MOC and LOC orders executed in the Closing Auction in
Tape C ETFs and ETNs. Currently, the Exchange does not charge a fee for
orders executed in the Closing Auction. Lead Market Makers (``LMMs'')
executing orders in the Closing Auction in securities in which the firm
is registered as the LMM will continue to not be charged a fee. The
proposed fee will become operative on May 1, 2009, and will apply to
all pricing levels, including tiered and basic rate pricing. The
Exchange believes that the proposed changes to the Schedule are
equitable in that they apply uniformly to all similarly situated Users.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Securities Exchange Act of 1934
(the ``Act''), in general, and Section 6(b)(4) of the Act, in
particular, in that it is designed to provide for the equitable
allocation of reasonable dues, fees, and other charges among its
members and other persons using its facilities. The Exchange believes
that the proposed changes to the Schedule are equitable in that they
apply uniformly to all similarly situated Users.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change is effective upon filing
pursuant to Section 19(b)(3)(A) \6\ of the Act and subparagraph (f)(2)
of Rule 19b-4 \7\ thereunder, because it establishes a due, fee, or
other charge imposed by NYSE Arca on its members. At any time within 60
days of the filing of the proposed rule change, the Commission may
summarily abrogate such rule change if it appears to the Commission
that such action is necessary or appropriate in the public interest,
for the protection of investors, or otherwise in furtherance of the
purposes of the Act.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(3)(A).
\7\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-NYSEArca-2009-38 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-NYSEArca-2009-38. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (https://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for inspection
and copying in the Commission's Public Reference Room, 100 F Street,
NE, Washington, DC 20549, on official business days between the hours
of 10 a.m. and 3 p.m. Copies of the filing also will be available for
inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NYSEArca-2009-38 and should
be submitted on or before June 5, 2009.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
---------------------------------------------------------------------------
\8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-11358 Filed 5-14-09; 8:45 am]
BILLING CODE 8010-01-P
